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17 Sep 2013
EUR/USD spiked to 1.3370 on better ZEW
FXstreet.com (Edinburgh) -The single currency attempted a rebound to weekly highs post-ZEW figures, although the EUR/USD faded the intent in the boundaries of 1.3370.
EUR/USD upside capped at 1.3370 so far
The ZEW Survey showed strong improvements in both the euro area and in Germany regarding the Economic Sentiment component, exceeding both forecasts and previous prints for the months of August and September, respectively. In another tone, EMU’s trade surplus shrunk to €11.1 billion during July, missing the median at €15.3 billion and June’s €14.3 billion. That was all events-wise in the bloc, with markets now focusing on the US inflation figures due later.
EUR/USD key levels
At the moment the pair is advancing 0.18% at 1.3358 facing the next hurdle at 1.3399 (high Aug.28) ahead of 1.3410 (high Aug.23) and then 1.3427 (high Aug.21). On the flip side, a breakdown of 1.3326 (low Sep.17) would target 1.3298 (low Sep.16) en route to 1.3262 (MA10d).
EUR/USD upside capped at 1.3370 so far
The ZEW Survey showed strong improvements in both the euro area and in Germany regarding the Economic Sentiment component, exceeding both forecasts and previous prints for the months of August and September, respectively. In another tone, EMU’s trade surplus shrunk to €11.1 billion during July, missing the median at €15.3 billion and June’s €14.3 billion. That was all events-wise in the bloc, with markets now focusing on the US inflation figures due later.
EUR/USD key levels
At the moment the pair is advancing 0.18% at 1.3358 facing the next hurdle at 1.3399 (high Aug.28) ahead of 1.3410 (high Aug.23) and then 1.3427 (high Aug.21). On the flip side, a breakdown of 1.3326 (low Sep.17) would target 1.3298 (low Sep.16) en route to 1.3262 (MA10d).